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FDIC, bad landlords and letters of credit 22 Aug 2013 | 02:50 pm
The California Court of Appeals has spoken in California Bank & Trust V. Piedmont Operating Partnership and the result should be compared to the treatment of LC's in bankruptcy. A little background. ....
LCs in bankruptcy 13 Aug 2013 | 07:21 pm
Letters of credit in bankruptcy proceedings are only a topic of discussion in the United States. Other countries typically regard the payment of the bank INDEPENDENT (I capitalize in the futile hope t...
Eurbonds turn fifty 10 Jul 2013 | 04:20 pm
The Economist reminded its readers that 50 years ago Eurobonds were created. As befits the topic of international finance, the first Eurobond was complex and cross border in an elaborate attempt to ...
Chinese interbank lending rates reach new heights 24 Jun 2013 | 08:48 am
Last week it was widely reported in the media that the Chinese interbank lending rates rose to levels reminiscent of post Lehman thus indicating a similar fate for the Chinese economy. I am no exper....
Tracking the location of a ship 9 May 2013 | 06:37 am
Recently I was reviewing a court decision where the issue of fraud came up. The bank had tried to prove via a web-site that the chartered vessel was at a different place and hence the charter party co...
However Named 22 Mar 2013 | 02:19 pm
The UCP mentions "however named" so often, that one might get the idea that the drafters and the banking industry in general are a convivial bunch. A bill of lading, however named, an airway bill, no ...
German law on charter party bills of lading being rewritten 20 Feb 2013 | 12:40 pm
The German House of Representatives ("Bundestag") has passed the draft of a new maritime law which is expected to come into effect in the coming weeks. The new law is supposed to simplify and moder...
Chinese Supreme Court Draft Guidelines regarding bank guarantees 18 Feb 2013 | 12:26 pm
The Chinese Supreme Court already has issued guidelines for lower courts how to treat letter of credit cases. Now, the Supreme Court is considering guidelines that are supposed to help the Chinese leg...
DC-PRO: online library for professionals 12 Jan 2013 | 08:06 am
DC-PRO is an online library (offered by Coastline Solutions) which publishes material from the International Chamber of Commerce. Among the generous offerings in DC-PRO you will find the Queries and r...
Charterparty Bills of Lading not acceptable under letter of credit 15 Nov 2012 | 07:34 pm
Charter party bills of lading (like the Congen Bill) look like standard bills of lading. Port of loading, port of discharge, shipper, consignee: whatever wording a bill of lading has, the charter part...
